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Vacation Days
Benefits & Compensation
Vacation Days
Exchange ideas about health plans, retirement, work/life benefits, and employee assistance.
I'd like opinions on the our policy for vacation, particularly the accrual rates. This morning I read an article from this site regarding the average number given, depending on the company size. We ar
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Forums » Topic Forums » Benefits & Compensation » Vacation Days
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Vacation Days
posted at 5/9/2000 5:24 AM EDT
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Posts: 9
First: 5/9/2000 Last: 6/13/2000 |
I'd like opinions on the our policy for vacation, particularly the accrual rates. This morning I read an article from this site regarding the average number given, depending on the company size. We are small (currently 20, and by the end of the year we will be at least 75 employees). So in writing this policy I was thinking of the near future...
Monthly accrual rate for first 3 years = .883 (11 days/12 months) 4th Year = 15 days Year 5-9 = 20 days Year 10 = 25 days Compared to the article, it looks like we may be granting "too many" days. But from other research, it seems like alot of companies are increasing their benefits to be competitive, especially in high-tech. What do you think?? |
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Vacation Days
posted at 5/12/2000 6:54 AM EDT
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Posts: 363
First: 7/30/1999 Last: 9/29/2005 |
I think that you're right--numbers of vacation days have probably gone up recently, especially high-tech.
On somewhat of a side note...and somewhat not...from talking to employees, as well as HR, I also think the value of things like telecommuting and flexible schedules has probably grown in importance to a lot of employees, more than the value of extra vacation days. I think people are working so much in the tech field that the idea of being able to have some time to run errands, etc. is sometimes more appealing than an extra day off. Todd |
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Vacation Days
posted at 5/19/2000 2:32 AM EDT
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Posts: 2
First: 5/19/2000 Last: 5/19/2000 |
Is your vacation and sick in separate "banks"? I know that a lot of companies are going towards the combined sick and vacation banks (Paid Time Off - PTO). The last 2 companies I worked in had PTO and it was very well received. It allows employees more control over their time off and also gives them access to more scheduled time off if they do not get sick. Our company currently offers a very generous PTO package - depending on your level in the first year you receive between 24 and 33 days of PTO. This does include 7 holdidays, 3 days of personal leave and then the "vacation" time. My previous employer had 24 days of PTO for all employees and then went up from there. If you would like more information, please email me: skeil@life-source.org
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Vacation Days
posted at 5/22/2000 7:21 AM EDT
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Posts: 7
First: 5/18/2000 Last: 7/12/2000 |
Kim -
The number of vacation days granted to employees is one of the benchmarking areas we study in the U.S. Chamber Employee Benefits Study. Based on nationwide averages, I would agree that your company may be giving more vacation days than other companies, especially of your size. In 1996, even employees with 20 years of service only averaged 20 days per year. If you are interested in benchmarking your company's package versus other of your size, industry, and region, I encourage you to participate in our study as discussed above. The survey is simple to complete and you will receive very valuable information as a thank you. |
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Vacation Days
posted at 5/23/2000 8:33 AM EDT
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Posts: 3
First: 5/23/2000 Last: 4/22/2010 |
Can you share what other companies with 350 people are currently offering as a vacation benefit? We use a pro-rated scale based on hire date. In general our policy is:
1st calendar year - 0 2nd calendar year - 80 hrs. 7th calendar year - 120 hrs. 15th calendar year - 160 hrs. I am trying to persuade upper management that we need to amend our vacation benefit program. I need this information by week's end. Please help! |
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